The University of Benin has confirmed the receipt of N24.4m for 332 students, a letter signed by the Vice-chancellor of the institution, Prof. Lilian Salami which was sighted by our correspondent on Thursday revealed.

Salami, in a letter dated August 11, 2024, and addressed to the Managing Director of NELFUND, Akintunde Sawyerr, said, “I write to acknowledge with thanks the receipt of the sum of Twenty-Four Million, Four Hundred and Twelve Thousand, Five Hundred Naira (N24,412,500), being the payment of school charges and upkeep for Three Hundred and Thirty Two (332) Students of the University of Benin who have applied for loan under the Nigerian Education Loans Fund Scheme.

“The University Management appreciates the Fund’s consideration of our students’ applications and assures you of our commitment to the academic success of these students. The University commends the laudable effort of the Federal Government to raise the standard of the students and the tertiary education system.

“On behalf of the University Management, please accept the assurances of the University’s highest regards.”

The student loan scheme is President Bola Tinubu’s flagship project in the education sector.

Barely a month after his inauguration as President, Tinubu signed the Access to Higher Education Act, which created a legal framework for granting loans to indigent or low-income Nigerians to facilitate the payment of their fees in Nigerian tertiary institutions.

Blackmombasa05:
I still feel the money would be better for self empowerment program

kennyz247:
I just wonder why people still fall for loan scam

Fasindo:




Mtchew



I still don't buy the idea of students loan, why giving loan to students when you have not create empowerment platform for them for easy repayment of the loan after graduation.

How do you expect them to pay back the loan after graduation when unemployment is on the increase.

Subsidize education, use the students loan to create industry for them to be employed after graduation.

Tinubu is a disaster with zero economic policy

Kam2021:
This is a good one but How will these loans be repaid? Hope the terms and conditions were well understood.

Sososo:
All this people receiving loan upandan
It's ok.

Fasindo:




Mtchew



I still don't buy the idea of students loan, why giving loan to students when you have not create empowerment platform for them for easy repayment of the loan after graduation.

How do you expect them to pay back the loan after graduation when unemployment is on the increase.

Subsidize education, use the students loan to create industry for them to be employed after graduation.

Tinubu is a disaster with zero economic policy

phemray:


But Why are people asking of how to repay a token loan from government. Remember, this is not from loan app.
I love looking at success and targets of a program like this other than it's failure. Government gave his poor children money to go school. To collect it back, then government MUST give them work except there students didn't want. It's an opportunity to secure future jobs in the ministries go and Mark my forcast.

Fasindo:




Mtchew



I still don't buy the idea of students loan, why giving loan to students when you have not create empowerment platform for them for easy repayment of the loan after graduation.

How do you expect them to pay back the loan after graduation when unemployment is on the increase.

Subsidize education, use the students loan to create industry for them to be employed after graduation.

Tinubu is a disaster with zero economic policy

Blackmombasa05:
I still feel the money would be better for self empowerment program

Kam2021:
This is a good one but How will these loans be repaid? Hope the terms and conditions were well understood.